Exam 18: Introducing Business Analytics

Descriptive analytics combined with analysis through sophisticated statistical software can provide analysts with both visual and numerical tools to examine relationships in data.

To create a new variable in Power BI, the managers can use the DAX (Data Analysis Expressions) programming language. Describe how DAX is similar to formulas in Excel and what the term RELATED means.

Microsoft Power BI has the capability to pull information from multiple data tables if those tables are related. Which of the following defines how those tables are related to each other?

Business analytics methods can examine data using deeper methods of analysis in order to draw conclusions about relationships.

An important component of Power BI's capability includes data visualization.

A 2010 white paper published by Oracle called "Predictive analytics: Bringing the tools to the data" presents a nice way of organizing the predictive analytics tools. A good predictive analyst uses fairly advanced mathematics and statistics along with special software. Identify a minimum of three predictive analytics functions or techniques identified through this white paper.

Measures are a feature of Power BI that allows you to

Describe in two specific examples how predictive analytics are used to understand a current business situation and then use this knowledge to help determine a future result.

The Dashboard shown below in the Power BI Desktop is displaying

A single graph, chart, or table is referred to as a tile in Power BI.

There is no specific way to create a dashboard in Power BI but there are some commonly accepted practices. List three of them.

Although a key component of business intelligence is gathering data that are relevant to the decision makers in your organization, it is considered to be a good idea to include extra potentially irrelevant data. Why?

The dashboards can provide powerful real time displays used to access multiple levels below high- level metrics.

Which of the following is not a component of Power BI?

Once you save your work as a Power BI Desktop file, it is considered to be a

Discuss the differences between business analytics and business intelligence.

Predictive analytics is a growing field and can be of potential value to organizations in what type of situations? Identify at least two.

Descriptive analytics and statistical analysis are two categories of business analytics.

The figure below displays the process of creating a new variable to be used in analyzing data in the Power BI desktop. Describe the specific measure being created, identifying each part of the formula: ProfitMargin = ProductData[ListPrice] - ProductData[StandardCost]

An important outgrowth of descriptive analytics has been the expanded use of dashboards, which provide historical summaries of key performance indicators for an organization.